Hankook Tire & Technology increased its year-over-year sales by 17.5% and its year-over-year operating profit by 9.9% during 2022.
During the fourth quarter of 2022, Hankook grew its overall operating profit by 140% and its sales by nearly 20%.
In North America, Hankook's replacement tire sales "grew with the ease of global supply chain bottlenecks " and its original equipment tire sales also increased on a year-over-year basis, thanks in part to the "alleviated semiconductor chip shortage," according to Hankook officials.
The Seoul, South Korea-based company is targeting 5% year-over-year sales growth in 2023.
